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ETSA 2024 | Zomato’s top ranks needed a spring clean after IPO highs: cofounder and CEO Deepinder Goyal

Economic Times · 1m

- Zomato CEO Deepinder Goyal opened up about the company’s journey from a $7.6 billion listing to a $29 billion market cap. - Goyal shared that there was a period of complacency within the company after the IPO, and he had to remove individuals who had lost their drive and reboot the organization. - He revealed that his lowest lows as a founder occur when people he trusts don't show up, which feels more personal than business. - Zomato's most challenging moment was when rival Swiggy raised $1 billion while they only had $35 million in the bank. - The decision to enter the delivery and quick commerce businesses was driven by survival instinct, as these moves were necessary for the company's continued existence. - Goyal discussed the diversification of Zomato, including its spin-off app District for events and dining out, acknowledging that they face competition from established players such as BookMyShow.